NewLake adds two lenders, upsizes revolver to $90 million

By Marisa Wong

Los Angeles, Aug. 2 – NewLake Capital Partners, Inc. announced it added two lenders to its existing five-year revolving credit facility and upsized the aggregate commitment under the facility to $90 million from $30 million.

The credit facility matures in May 2027 and has a fixed interest rate of 5.65% for the first three years and a floating rate after that, according to a press release.

The credit facility allows for further expansion as additional lenders are added or the commitments of existing lenders are increased.

NewLake is a New Canaan, Conn.-based provider of real estate capital to state-licensed cannabis operators.

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